Civic Intelligence

Wa Sang Foundation

EIN 94-3113810 • 501(c)3 • Seattle, WA

Profile

LOW INCOME HOUSING

657 South King Street Apt 209Seattle, WA 98104

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

86th percentile

0.62x

Higher debt load relative to assets than 86% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

95th percentile

2.94x

Higher debt load relative to revenue than 95% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

70th percentile

17%

Higher net margin than 70% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

40th percentile

$0

Higher top officer pay than 40% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

62nd percentile

8.1%

Faster asset growth than 62% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

82nd percentile

48%

Faster revenue growth than 82% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets86th percentile

Assets

Up

$3,526,209

Up $262,877 (+8.1%) from 2023

Liabilities

Down

$2,183,784

Down $3,300 (-0.2%) from 2023

Net Assets

Up

$1,342,425

Up $266,177 (+25%) from 2023

Operations
Liabilities / Revenue95th percentileNet Margin70th percentile

Revenue

Up

$742,796

Up $241,320 (+48%) from 2023

Expenses

Up

$613,848

Up $127,698 (+26%) from 2023

Net Income

Up

$128,948

Up $113,622 (+741%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth62nd percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$4.0M$3.0M$2.0M$1.0M$0-$1.0MAssets 2011: $2,195,730Liabilities 2011: $2,398,068Net Assets 2011: -$202,3382011Assets 2012: $2,246,001Liabilities 2012: $2,399,233Net Assets 2012: -$153,2322012Assets 2013: $2,458,996Liabilities 2013: $2,400,022Net Assets 2013: $58,9742013Assets 2014: $2,579,334Liabilities 2014: $2,025,850Net Assets 2014: $553,4842014Assets 2015: $2,510,301Liabilities 2015: $2,032,689Net Assets 2015: $477,6122015Assets 2016: $2,559,109Liabilities 2016: $2,030,938Net Assets 2016: $528,1712016Assets 2017: $2,768,815Liabilities 2017: $2,034,246Net Assets 2017: $734,5692017Assets 2018: $2,689,189Liabilities 2018: $2,036,230Net Assets 2018: $652,9592018Assets 2019: $2,952,161Liabilities 2019: $2,033,137Net Assets 2019: $919,0242019Assets 2020: $3,352,775Liabilities 2020: $2,188,728Net Assets 2020: $1,164,0472020Assets 2021: $3,494,140Liabilities 2021: $2,234,500Net Assets 2021: $1,259,6402021Assets 2022: $2,965,328Liabilities 2022: $2,183,053Net Assets 2022: $782,2752022Assets 2023: $3,263,332Liabilities 2023: $2,187,084Net Assets 2023: $1,076,2482023Assets 2024: $3,526,209Liabilities 2024: $2,183,784Net Assets 2024: $1,342,4252024

Highlighted filing

2024

Assets$3,526,209
Liabilities$2,183,784
Net Assets$1,342,425
Open 2024 Filing

Operations Trend

Revenue Growth82nd percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.0M$500K$0-$500KExpenses 2011: $242,3532011Revenue 2012: $405,220Expenses 2012: $418,694Net Income 2012: -$13,4742012Revenue 2013: $551,097Expenses 2013: $434,419Net Income 2013: $116,6782013Revenue 2014: $864,362Expenses 2014: $428,287Net Income 2014: $436,0752014Revenue 2015: $474,063Expenses 2015: $424,325Net Income 2015: $49,7382015Revenue 2016: $496,880Expenses 2016: $446,526Net Income 2016: $50,3542016Revenue 2017: $427,449Expenses 2017: $452,739Net Income 2017: -$25,2902017Revenue 2018: $862,130Expenses 2018: $476,110Net Income 2018: $386,0202018Revenue 2019: $568,977Expenses 2019: $516,488Net Income 2019: $52,4892019Revenue 2020: $438,710Expenses 2020: $529,857Net Income 2020: -$91,1472020Revenue 2021: $620,068Expenses 2021: $595,017Net Income 2021: $25,0512021Revenue 2022: $705,432Expenses 2022: $494,917Net Income 2022: $210,5152022Revenue 2023: $501,476Expenses 2023: $486,150Net Income 2023: $15,3262023Revenue 2024: $742,796Expenses 2024: $613,848Net Income 2024: $128,9482024

Highlighted filing

2024

Revenue$742,796
Expenses$613,848
Net Income$128,948
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,526,209
Liabilities
$2,183,784
Net assets
$1,342,425
Revenue
$742,796
Expenses
$613,848
Net income
$128,948
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.53$2.18$1.34$0.74$0.61$0.13
2023Detailed filing. Detailed filing data is available for this year.$3.26$2.19$1.08$0.50$0.49$0.02
2022Detailed filing. Detailed filing data is available for this year.$2.97$2.18$0.78$0.71$0.49$0.21
2021Detailed filing. Detailed filing data is available for this year.$3.49$2.23$1.26$0.62$0.60$0.03
2020Detailed filing. Detailed filing data is available for this year.$3.35$2.19$1.16$0.44$0.53$0.09
2019Detailed filing. Detailed filing data is available for this year.$2.95$2.03$0.92$0.57$0.52$0.05
2018Detailed filing. Detailed filing data is available for this year.$2.69$2.04$0.65$0.86$0.48$0.39
2017Detailed filing. Detailed filing data is available for this year.$2.77$2.03$0.73$0.43$0.45$0.03
2016Detailed filing. Detailed filing data is available for this year.$2.56$2.03$0.53$0.50$0.45$0.05
2015Detailed filing. Detailed filing data is available for this year.$2.51$2.03$0.48$0.47$0.42$0.05
2014Detailed filing. Detailed filing data is available for this year.$2.58$2.03$0.55$0.86$0.43$0.44
2013Summary only. Only limited summary data is available for this year.$2.46$2.40$0.06$0.55$0.43$0.12
2012Summary only. Only limited summary data is available for this year.$2.25$2.40$0.15$0.41$0.42$0.01
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.20$2.40$0.20$0.24
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 12, 2025
Return Version
2024v5.2
Gross Receipts
$2,791,036
Mission and Program Overview

Mission

LOW INCOME HOUSING

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$2,825,943$3,297,903▲ $471,960
Savings and Temporary Cash Investments$269,604$0▼ $269,604
Land, Buildings, and Equipment, Net$150,685$151,158▲ $473
Cash and Non-Interest-Bearing Accounts-$62,059-
Accounts Receivable$14,080$12,069▼ $2,011
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$3,263,332$3,526,209▲ $262,877
Other Assets Total$3,020$3,020→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,011,489$2,011,489→ $0
Unsecured Notes Loans Payable$149,900$149,900→ $0
Other Liabilities$20,551$20,577▲ $26
Accounts Payable and Accrued Expenses$5,144$1,818▼ $3,326
Total Liabilities$2,187,084$2,183,784▼ $3,300
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,076,248$1,342,425▲ $266,177
Total Net Assets Fund Balance$1,076,248$1,342,425▲ $266,177
Total Liabilities and Net Assets / Fund Balance$3,263,332$3,526,209▲ $262,877

Asset Categories

AssetBook ValueDepreciationBasis
Buildings-$2,478,518$2,478,518
Other Land Buildings$151,158$177,925$329,083
Compensation and Service Providers
Top Officer Pay40th percentile

Board Members and Trustees

NameTitle
Will SpiessPresident
Ling ChinnDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$135,776
Program Service Revenue
$348,267
Investment Income
$256,670
Other Revenue
$2,083
All Other Contributions
$135,776
Change in Net Assets
$128,948

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported Amount
Other Non Cash Contri Table1$135,776
Total Noncash Contributions1$135,776
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$593,650
Salaries, Compensation, and Employee Benefits$16,459
Grants and Similar Amounts Paid$3,739
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$83,250$83,250-$166,500
Interest$135,776--$135,776
Insurance$47,915--$47,915
Fees for Services Management$23,567--$23,567
Fees for Service Investment Mgmnt Fees-$17,213-$17,213
Other Salaries and Wages$14,410--$14,410
Depreciation Depletion$9,413--$9,413
All Other Expenses$7,216--$7,216
Other Expenses$5,880--$5,880
Grants to Domestic Orgs$3,739--$3,739
Payroll Taxes$2,049--$2,049
Fees for Services Legal$1,287--$1,287
Total Functional Expenses$513,385$100,463$0$613,848
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Gin Holdings LLCLing ChinnLease RentNo$166,500

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenants Deposits in Trust$20,577
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
Yes
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

“Related party information among officers -ling chinn: mother-in-law of will spiesswill spiess: son-in-law of ling chinn”

Form 990, Part VI, Section B, Line 11B

“Organization's process to review form 990 - a copy of form 990 is provided to the president for review prior to signing.”

Form 990, Part VI, Section C, Line 19

“Governing documents disclosure explanation -the document can be obtained upon request”

Filing and Contact Details

Filer

Filer Name
Wa Sang Foundation
EIN
94-3113810
Phone
2066222032
Address
657 SOUTH KING STREET APT 209, SEATTLE, WA 98104

Signing Officer

Name
Ling Chinn
Title
Director
Signed
2025-11-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ling Chinn
Formed
1989
Legal Domicile
Wa
Voting Board Members
2
Independent Board Members
0
Employees
1

Preparer

Firm
Jeffrey M Wilson PS
Address
15215 52nd Ave S 9, Tukwila, WA 98188
Preparer
Jeffrey M Wilson
Phone
2062822727
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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ReportLandBuildingEquipmentInd0true
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IRS990/ReportOtherLiabilitiesInd0true
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IRS990/RevenueAmt0348267
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0135776
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0135776
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0135776
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0678880
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0117685
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0121807
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IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0454334
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
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IRS990ScheduleA/PublicSupportCY170Pct00.59910
IRS990ScheduleA/PublicSupportPY170Pct00.63000
IRS990ScheduleA/PublicSupportTotal170Amt0678880
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IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0678880
IRS990ScheduleA/TotalSupportAmt01133214
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IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0151158
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IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0329083
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANTS DEPOSITS IN TRUST
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IRS990ScheduleD/TotalLiabilityAmt020577
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0GIN HOLDINGS LLC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0LING CHINN
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt0166500
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0LEASE RENT
IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0SCHEDULE L, PART V - ADDITIONAL INFORMATIONSCHEDULE L, PART IV, BUSINESS TRANSACTION INVOLVING INTERESTED PERSONS:A) NAME OF PERSON: GIN HOLDINGS, LLCB) RELATIONSHIP BETWEEN INTERESTED PERSON AND ORGANIZATION: OWNED BY LING CHINN, DIRECTORC) AMOUNT OF TRANSACTION: $166,500D) DESCRIPTION OF TRANSACTION: LEASE RENT PAID FROM WA SANG FOUNDATION TO GIN HOLDINGS FOR USE OF REX BUILDING'S RESIDENTIAL UNITS.E) SHARING OF ORGANIZATION REVENUES?: NO
IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule L, Part V Supplemental Information
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IRS990ScheduleM/OtherNonCashContriTableGrp/ContributionCnt01
IRS990ScheduleM/OtherNonCashContriTableGrp/NonCashCheckboxInd0X
IRS990ScheduleM/OtherNonCashContriTableGrp/NoncashContributionsRptF990Amt0135776
IRS990ScheduleM/ReviewProcessUnusualNCGiftsInd0false
IRS990ScheduleM/ThirdPartiesUsedInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0RELATED PARTY INFORMATION AMONG OFFICERS -LING CHINN: MOTHER-IN-LAW OF WILL SPIESSWILL SPIESS: SON-IN-LAW OF LING CHINN
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ORGANIZATION'S PROCESS TO REVIEW FORM 990 - A COPY OF FORM 990 IS PROVIDED TO THE PRESIDENT FOR REVIEW PRIOR TO SIGNING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GOVERNING DOCUMENTS DISCLOSURE EXPLANATION -THE DOCUMENT CAN BE OBTAINED UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, Line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section C, Line 19
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IRS990/TerminateOperationsInd0false
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IRS990/TotalCompGreaterThan150KInd0false
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0513385
IRS990/TotalFunctionalExpensesGrp/TotalAmt0613848
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02187084
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IRS990/TotalLiabilitiesGrp/BOYAmt02187084
IRS990/TotalLiabilitiesGrp/EOYAmt02183784
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01076248
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0742796
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt03263332
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IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationOtherInd0X
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IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0657 S KING ST 209
IRS990/USAddress/CityNm0SEATTLE
IRS990/USAddress/StateAbbreviationCd0WA
IRS990/USAddress/ZIPCd098114
IRS990/VotingMembersGoverningBodyCnt02
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IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0LING CHINN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Director
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-11-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WA SANG FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0WASA
ReturnHeader/Filer/EIN0943113810
ReturnHeader/Filer/PhoneNum02066222032
ReturnHeader/Filer/USAddress/AddressLine1Txt0657 SOUTH KING STREET APT 209
ReturnHeader/Filer/USAddress/CityNm0SEATTLE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0WA
ReturnHeader/Filer/USAddress/ZIPCd098104
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0911274993
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Jeffrey M Wilson PS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt015215 52nd Ave S 9
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Tukwila
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0WA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd098188
ReturnHeader/PreparerPersonGrp/PhoneNum02062822727
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JEFFREY M WILSON
ReturnHeader/ReturnTs02025-11-12T15:44:11-08:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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